Washington, August 24 (QNA) - US President Donald Trump said Monday he will impose a 50% tariff on Canadian automobiles, car parts and steel starting next year.

In a post on his Truth Social platform Monday, Trump wrote that on Jan. 1, 2027, tariffs on all cars and trucks, both large and small, automotive parts and steel will be increased to 50%.

He added that Canada wants the benefits of being a US State without being one.

The decision comes after the two North American neighbors failed on Friday to reach a deal to avert the imposition of new 50% tariffs by the Trump administration on selected Canadian goods.

New 50% tariffs imposed by the Trump administration on about $20 billion worth of Canadian goods took effect Saturday.

Canadian Prime Minister Mark Carney then declared that Canada would retaliate by imposing tariffs "dollar for dollar" on US goods, set to take effect on Sept. 8, 2026. (QNA)